High-Density Polyethylene Asia

摘要

The Asian high density polyethylene market weakened this week as a sharp plunge in Western crude oil futures slashed spot buying appetite in the region. At 4:30 pm Singapore time Wednesday (0830 GMT), NYMEX September crude oil futures were pegged at $81.60/barrel, having plunged $11.79/b from $93.39/b at the same time last Wednesday. The CFR Far East Asia HDPE film price benchmark dropped $30/mt week on week to $1,401/mt Wednesday, while the CFR FEA HDPE yarn price also came off $30/mt from the previous week to $1,436/mt. Transactions were limited this week as most market participants decided to take a wait-and- see stance amid volatile Western crude oil futures. In addition, fresh inflation concerns kept most market participants sidelined.